About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Formicary Launches New Version of RiskSeer to Transform and Improve Risk Management Processes

Subscribe to our newsletter

Formicary, a specialist technology integration company for the financial services industry, has launched the latest version of RiskSeer – its integrated Independent Price Verification application. Designed to transform and improve risk management processes, RiskSeer centralises market and trade data to facilitate accurate and timely decision making by the risk, product control and finance units of financial institutions. Riskseer’s core data consolidation features also provide significant market data cost savings to its users.

Building on the success of the original application, the new version of RiskSeer features: extended securities coverage; position valuation calculation and tolerance check; rules-based price averaging from multiple raw data sources; ability to integrate custom pricing models; and extended market data feed handling for Reuters, Bloomberg and Markit.

As management become increasingly focused on price and risk analysis, market valuations and measures of exposure to risk, the need for a means of consolidating pricing, valuation and risk data is a growing priority for organisations.

RiskSeer automatically pulls together data from multiple price sources and is able to feed multiple price destinations one, consolidated view – organised by any available data attribute, such as instrument type, currency, index, or counterparty.

The application enables authorised users to access, manipulate and quality check trade / pricing data and export the information on demand. Product controllers, risk and finance personnel can all request the market value of positions from an individual asset, book, regional or global perspective at any given time.

RiskSeer’s configurable, rules-based workflow will automate the distribution of consistent, approved pricing, ensuring clear and accurate reporting within a bank’s approved audit process. Full built-in exception handling ensures any market data discrepancies are identified to the user as soon as they occur.

The ability of RiskSeer to verify prices allows for a more robust delivery of clean, risk-approved market data across multiple systems, providing a consistent foundation for calculation of intraday and end of day profit & loss and risk. Full auditing and reporting streamlines end-of-day and month-end processing.

Alexander Millington, director of Formicary’s Trading and Risk Technology Group, said: “Financial institutions are under greater pressure than ever before to manage risk and make profitable decisions, but these can only be based on the accuracy of the information their teams have at their disposal at any one time. Accurate Front Office market valuations play a critical role in the risk management process. Many financial institutions have created their own in-house systems for price verification, but these don’t always show the full picture. RiskSeer is different in that it brings together data from multiple price sources to multiple price destinations, working alongside existing trading and market data applications to create a transparent, integrated workspace that eases every aspect of the valuation and risk process.”

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: FRTB Implementation in APAC: An industry update and what is left to do

Date: 25 May 2023 Time: 9:00am London / 4:00pm Singapore Duration: 50 minutes Fundamental Review of the Trading Book (FRTB) regulation, a set of proposals from the Basel Committee on Banking Supervision (BCBS) for a new market risk-related capital requirement for banks, is due to be implemented across APAC over the next few years. Singapore...

BLOG

Cube Acquires The Hub to Help Clients Automate Compliance Processes

Regulatory data automation specialist Cube has acquired The Hub, a provider of artificial intelligence solutions for capturing and monitoring unstructured regulatory data. Cube plans to integrate The Hub’s technology with its own RegPlatform to allow clients to automate their regulatory compliance processes. The acquisition aims to address what Cube has identified as financial firms’ growing...

EVENT

TradingTech Briefing New York

TradingTech Insight Briefing New York will explore how trading firms are innovating and leveraging technology as a differentiator in today’s cloud and digital based environment.

GUIDE

Regulatory Data Handbook 2022/2023 – Tenth Edition

Welcome to the tenth edition of A-Team Group’s Regulatory Data Handbook, a publication that has tracked new regulations, amendments, implementation and data management requirements as regulatory change has impacted global capital markets participants over the past 10 years. This edition of the handbook includes new regulations and highlights some of the major regulatory interventions challenging...